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Ark. Code Ann. § 23-115-803

Disposition of funds — Definition

Known as the Arkansas Scholarship Lottery Act

The act spans §§ 23–23 (66 sections).

Acts 2009, No. 605, § 1; 2009, No. 606, § 1; Acts 2015, No. 218, § 25.

(1) To effectuate the purposes of the Office of the Arkansas Lottery, the office may borrow moneys from the State of Arkansas or accept and expend moneys from the State of Arkansas and shall repay any sums borrowed from the state as soon as practicable.

(2) As used in this section, “purposes” includes without limitation the payment of the initial expenses of initiation, administration, and operation of the office and lotteries.

(3) The office shall not issue bonds for any purpose.

(4) The office shall be self-sustaining and self-funded.

(5) Except as provided in subsection (a) of this section, moneys in the General Revenue Fund Account of the State Apportionment Fund shall not be used or obligated to pay the expenses of the office or prizes of a lottery.

(6) A claim for the payment of an expense of a lottery or prizes of a lottery shall not be made against any moneys other than moneys credited to the office's operating account.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.